Mr. Ed Steins reports

UGE PROVIDES UPDATE ON ITS LARGEST US PROJECT AS IT ENTERS NEXT PHASE

UGE International Ltd. has issued an update regarding the five-site rooftop solar portfolio that it was awarded on Aug. 13, 2018.

This is the largest United States-based project in UGE's history, with an estimated total revenue in excess of $11-million. The project includes the development, engineering and deployment of five community solar projects totalling 3.1 megawatts DC in rated capacity in the northeast United States with a confidential client.

Since UGE was awarded the project last year, the company has worked with the client to plan the engineering and deployment of the projects. Last week, the client issued the purchase order for the next phase, related to the engineering of the projects, to be completed throughout the second quarter. Most of the project's revenue relates to the deployment phase, which is expected to commence in the second half of 2019, with completion expected in the first half of 2020. Revenue will be recognized as work is completed.

"Our business is ramping up quickly in the northeast United States," said UGE's chief operating officer, Ed Steins. "Community solar is the most important development in years for distributed solar, and we look forward to leveraging our tremendous amount of experience to grow our leadership in the sector."

In related news, the company has added Ricardo Betts to lead its United States deployment team. Mr. Betts has over 10 years of experience in renewables, primarily in the North American and Western Europe markets. Mr. Betts has driven project acquisition, development, execution and management of over two gigawatts of commercial and industrial and utility-scale solar projects. Prior to joining UGE, Mr. Betts played key roles at Cypress Creek Renewables, Martifer Solar and Adani Solar.

About UGE International Ltd.

UGE delivers immediate savings to businesses through the low cost of solar energy. The company helps commercial and industrial clients become more competitive by providing low-cost distributed renewable energy solutions at no upfront cost and maximum long-term benefit. With over 375 megawatts of global experience, the company works daily to power a more sustainable world.